Overview

• Kraken has unveiled xStocks, a new product offering tokenized versions of U.S. stocks and ETFs to customers outside the United States.
• xStocks will initially be available in Europe, Latin America, Africa, and Asia, with plans for broader availability in the coming weeks.
• The tokens, built on the Solana blockchain, are backed 1:1 by real securities through a partnership with Backed Finance.
• xStocks provide 24/7 trading access, allowing users to trade popular equities like Apple, Tesla, and Nvidia in a crypto-native format.
• The tokens function like stablecoins tied to stock prices, enabling price speculation without granting voting rights or dividends.